Struggling to maintain momentum after hitting 2020 lows

Taking a look at Anglo American after its shares have fallen below some of the 2020 levels. Its shares hit a low of 1651p on the 13^th of December last year, they have since bounced back a little and currently trade at around 1817p a share. Looking at the chart based on the daily timeframe, a Fibonacci retracement has been applied to analyse the recent price movement. We can see that the stock is finding some resistance near the 50% Fib, at the level of 1956p. A move above the 50% Fib would first require a break of the 2016p resistance for any further upside. Towards the downside, support for Anglo sits along the 23.6%, or respectively, 1808p a share. A break and close below this support level would suggest that buying is fading and could well see a pullback towards the current support base around 1651p. The technical indicators are demonstrating a bit of a mixed bag, the MACD is positive but starting to curve a little and the RSI has fallen to a neutral stance as it reads 51. The near-term outlook is somewhat unclear, it may be a case of some sideways movement before momentum is regained.